On January 2,2014,Mahoney Sales issued $10,000 in bonds for $9,400.They were 5-year bonds with a stated rate of 4%,and pay semiannual interest payments.Mahoney Sales uses the straight-line method to amortize the bond discount.Immediately after issue of the bonds,the ledger balances appeared as follows: 
- After the first interest payment on June 30,2014,what was the balance in the discount account?
Definitions:
Statement Of Cash Flows
A financial report that shows how changes in balance sheet accounts and income affect cash and cash equivalents, breaking the analysis down to operating, investing, and financing activities.
Financial Ratios
Financial ratios are quantifiable measures used to evaluate a company's financial performance by comparing two line items from financial statements.
Industry
A category of businesses that produce or sell similar products, services, or are involved in the same level of economic activity.
Operating Activities
Business actions directly involved in the production and delivery of goods and services, as reflected in the cash flow statement.
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